Cloud-based video editing startup Magisto will soon launch an iPhone version of its automated video editing app, the company announced today.

Magisto’s free (for now) service automates the video editing process for the untrained or lazy, making it possible for people to submit video clips to the service and let it do the work of cutting the video in an interesting fashion. Magisto scans the clips for noteworthy action and packages it with tricks like transitions and split-screens. Then users simply give the video a title and pick a soundtrack, and the video is ready to share on Facebook, Twitter, YouTube or e-mail. And now, you’ll be able to do so on the iPhone in just a few weeks.

“Since the invention of camcorders, video has always been too boring or too complicated for the average user,” Magisto CEO Oren Boiman said via email. “Consumers want a way to make great movies. Magisto’s artificial intelligence is that solution [and] Magisto for iPhone is the first end-to-end app that automatically turns plain mobile videos into edited and produced movies, just minutes after they were shot.”

Update: The company has given me a little more clarification around release timing. A company spokesperson has informed me that the app will be live “within the next few weeks, if not early January at the latest.”